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Saturday, 14 January 2012

Nigeria fuel talks fail to reach compromise

Al Jazeera reports that: "Nigeria's government and labour unions have failed to come to an agreement over high gasoline costs, two weeks after $8bn of annual subsidies were slashed causing national protests."

"We have not reached a compromise", Abdulwaheed Omar, Nigeria's Labour Congress president, told journalists outside the presidential palace late on Saturday night.

The news comes from a volatile region in Africa, which is an important supplier of oil  onto European market. The region was plagued with confessional violence, poverty and roaming rebels. This is a bad news for oil prices.

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